You can’t say this every day, but today VCIA truly tried something new, and I’m happy to report that not only was it well received, it was productive and left over 30 individual members with some great takeaways.
Our inaugural Member Think Tank grew out of a desire to increase engagement between members, and utilize the reservoir of experience and skill they have to mutual benefit all involved. We also realized, as with the saying, “When You See One Captive, You’ve Seen One Captive,” that the field of captive insurance is enormous (and growing!), encompassing extensive professional service sectors that may each relate to and inform a captive company in different ways.
Our first think tank dove into captives and law, and I thank our friends at Primmer and outstanding captive lawyers Jesse Crary and Peter Dysart for being our guinea pigs on this. Jesse and Peter joined the forum ready to touch on important topics like corporate governance and legal pitfalls, but what was wonderful to see (and our goal for this project) was that the discussion was member audience driven, and unfolded based on member experience and needs.
Some back and forth exchanges I found particularly illuminating were on incorporated vs. unincorporated cells; the use and application of sponsored cells; and the importance of recognizing the entire life cycle of a captive to avoid any messy divorces. The think tank greatly benefited from members who shared some of their experiences and asked questions related to some challenges they are currently facing in their business.
We are all pleased with this first think tank’s outcome, and what’s better, is we want to hear from you on which captive subject should be next and which member friends should facilitate! Send me a line at kmead@vcia.com.
Send in your great captive topic ideas!
As you you can imagine, there’s no shortage of content these days concerning captive insurance. Pick your captive type – pure or cell, for instance; or pick your line of coverage – P/C, cyber, medical stop loss, etc. – and you only begin to unpack the various layers and specialized niches. That’s why annual meetings for captive insurance are so important, and that’s why we call on you each year (quite early, I may add!) to send in ideas for our conference agenda.
We still have a week to go, but make sure you send something in to our conference task force, as they work diligently to produce world-class captive education sessions.
Some broad categories to spur your brainstorming:
- Topics for existing captives, use of reinsurance, “next steps” for established captives, etc.
- Topics for young professionals and captive basics
- Captives 301 advanced level sessions on particular captive coverages like medical stop loss, cyber or property
- Topics directed at different industry segments and captive types beyond pure captive
- New technologies within the insurance industry that will drive the future of risk management
- Professional development topics which are relevant to those in the industry
And remember, VCIA is always looking for the brightest talent and up-and-comers to present at the conference. We will be sure to consult with VCIEL, and I hope you tap into your network as well.
As the old Uncle Sam slogan went, We Want You!
